Financial consolidations can be difficult. Let’s face it. The native Dynamics 365 for Operations consolidation process is complex and unforgiving.
• It requires multiple steps, and keying errors in any step along the way requires the entire, multi-step process to be run again.
• It requires users to overwrite the exchange rates in the exchange rate table every time they run an exchange rate adjustment. Keying errors are common and produce reconciliation problems.
• Once introduced, errors are very difficult to isolate. Consolidation parameter history is not maintained.
Arbela Technologies’ One-Step Consolidation (OSC) solution solves these nagging problems. With OSC pre-set, the user simply specifies the timeframe and the exchange rates for the consolidation. All consolidation parameters are saved and available so that any errors can be quickly identified. And then they can simply repeat the consolidation process by changing the parameter that wasn’t correct.
Exchange adjustment of opening balances from previous periods can be run within the same process or later without the need to manually change the exchange rates in the exchange rate table or to run separate exchange adjustment routines.